Dr. Glenn Gearhart CEO of World Market Vendor Services, Inc. provides News and Commentary

Using Targeted Market Emersion

Targeted Market Emersion is an effective approach to eCommerce sales growth

Sales PromotionsIn World War II the Allied and Axis forces used saturation bombing to accomplish their mission. They did not use a highly focused approach. The approach was meant to get the attention of all and to ultimately be successful with some. The success being the coming out and surrender of the targeted party.

Although that may be a gruesome analogy, I feel it does define the crux of the Targeted Market Emersion approach to sales growth in a new market. The targeted market can be a new category of customers that your business is not currently addressing, or a new country, region or area of the world that is targeted for service by your business.

The approach is to blast the potential customer base, accept and analyze the responses, make any needed adjustments and blast again. To see strong rewarding results requires more than just one cycle of this process. Major brand and product recognition requires repeated image exposure. In fact, this market emersion approach has a long history of delivering successful sales growth to many, many businesses.

For those who think I should have used the word Immersion, I use the term “Emersion” because the parties who are unaware of your product, become aware, they “come-out, or egress from a void without knowledge” of your product. It is the act or an instance of emerging from no knowledge to full knowledge. Consumers cannot buy your product if they do not know it exists. You cannot convince a consumer to buy, if your product is unknown to them. Therefore, Emersion is the customer or the local publics’ egress to product awareness.

I know your question, if “Targeted Market Emersion” has been around since the being of eCommerce in the 1980s, why is it NOW the new and hot technique to cross-border eCommerce sales growth? Why does my business need to jump on this opportunity?

First, every eCommerce vendor at some point saturates the in-country customer base. Therefore the only path to continued high sales growth numbers is to cross the border and commence multi-national marketing and sales.

But for the Small business and Mid-sized business Enterprise (SMEs) that has not happened because, as discussed in Blogs, most online stores and eCommerce vendors have been inhibited and overly restricted in their ability to use any market expansion programs. That is due to the very high risk of payment fraud losses and related costs of fraud prevention.

To these growth negatives, is the added inability to access any affordable cross-border or international payment processor service. There are some services available but the participation requirements, terms and conditions are a significant burden on the SME. In my analysis, the use of conventional cross-border payment services is not cost effective for an SME..

The Second restriction, in my opinion, is the costs of entry into multiple countries or the total world market. How does an SME, or even a Large Enterprise (LE) afford or justify the capital expenditures and the time, manpower and resource commitments to enter, expand and gain market share in new countries, regions or the total world market?

The need for cross-border expansion and the success of Targeted Market Emersion are know, but until now they could be visualized as many insurmountable mountains totally blocking both SMEs and many LEs from international eCommerce expansion.

World Market has completely eliminated the restrictions and cost of entry inhibitors with new proprietary technology, a new advanced payment system and elimination of the need for capital outlays and major resource commitments.

In my view the most powerful element is World Market's proprietary “Pay-Online-With-Cash”™ service. This is a key factor in assuring each World Market participating vendor is paid immediately with irrevocable cash, NOT revocable credit. No matter where the customer resides, no matter what the product, the vendor gets paid in cash. This feature removes a huge amount of financial risk and makes cross-border market expansion an acceptable growth path.

World Market delivers these powerful features and services to all participating vendors without the need for a vendor to open and operate any foreign offices or obtain an in-country business license. Plus there is no need for the vendor to qualify for and employ a local payment processing service, payment gateway, hosting services or address any of the other common multinational business burdens.

The setup process is simple, quick and economical. You are in full control of what you choose to sell, in which countries, regions or areas, the price you charge, the fulfillment and shipping services you employ, and the price discounts and sales promotions you utilize.


References:

http://insights.mastercard.com/2011/12/21/ignoring-cross-border-eCommerce-leaves-lots-of-money-on-the-table/
http://www.slideshare.net/pitneybowes/eCommerce-revenue-growth-through-crossborder-sales-pitney-bowes
http://www.slideshare.net/eshopexpo/helping-merchants-boost-crossborder-eCommerce-sales-12266865